First Hawaiian Bank Buys 26,404 Shares of Baker Hughes (NASDAQ:BKR)

First Hawaiian Bank boosted its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 28.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,567 shares of the company's stock after purchasing an additional 26,404 shares during the period. First Hawaiian Bank's holdings in Baker Hughes were worth $5,299,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC lifted its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Baker Hughes in the 4th quarter valued at about $45,000. Finally, OFI Invest Asset Management bought a new stake in Baker Hughes in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BKR. Evercore ISI cut their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada cut their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Barclays dropped their price target on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler dropped their price target on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup dropped their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Baker Hughes has an average rating of "Moderate Buy" and an average price target of $49.11.

Baker Hughes Price Performance

BKR traded down $0.54 during midday trading on Friday, hitting $36.82. The company had a trading volume of 11,354,489 shares, compared to its average volume of 7,110,257. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The company has a market capitalization of $36.48 billion, a PE ratio of 12.36, a P/E/G ratio of 2.00 and a beta of 0.96. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The firm's 50-day simple moving average is $37.95 and its 200-day simple moving average is $41.77.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.